Whether you overpaid for the property in a bidding war, you’ve fallen behind on mortgage payments, or property values have dipped, being upside-down on your mortgage or owing more than the current market value is a less-than-ideal situation for homeowners. If circumstances force you to sell your house due to foreclosure instead of waiting out a market turnaround for values to rise, you may feel backed into a corner. Understandably you don’t want to make a costly misstep when faced with this dilemma, so exploring your options is helpful.
With so many decisions ahead, being fully informed and weighing the benefits of each will help you feel confident in the action you take. So read on as we explore four things you can do if you are upside-down on your mortgage in Tennessee.
Assessment
The first thing you can do if you are upside-down on your mortgage in Tennessee is to get a realistic picture of where you stand. Then, contact your lender for the amount owing on the mortgage and schedule a professional appraiser so that you’ll work with exact numbers.
Knowledgeable investors such as those at Premise Home Solutions are committed to helping you make an informed choice regarding your future. They analyze the potential earnings from listing your property versus the convenience of selling it directly to us for cash, without the need for preparation, cleaning, or repairs. Our team at Premise Home Solutions transparently presents all the information used to determine our offer, ensuring that you find it equitable and are satisfied with our partnership well beyond the closing date.
Short Sale
Naturally, you want to try every option if you are upside-down on your mortgage in Tennessee; while a short sale has some consequences, they don’t compare to the fallout from claiming bankruptcy or a foreclosure on your credit record. Professional buyers like those at Premise Home Solutions are highly seasoned negotiators who can work out a short sale with your lender. A direct sale to one of our professional buyers at Premise Home Solutions makes it easy to solve your home selling troubles in Tennessee.
Pay the Difference
When you find yourself in a situation where you’re upside-down on your mortgage in Tennessee, one option to consider is selling the property and covering the remaining mortgage balance at the closing table. By opting for a direct sale of your Tennessee home to reputable buyers like those at Premise Home Solutions, you can expect a fair offer without the burden of hefty real estate commissions. At Premise Home Solutions, our transparent professional buyers ensure a seamless transaction without any hidden fees. Benefit from our all-inclusive in-house team of industry experts, which means no additional closing costs and a quick, guaranteed closing date. Consult with your dedicated Premise Home Solutions professional to determine the most suitable closing date for your needs.
At Premise Home Solutions, our professional buyers are the best option if you are upside-down on your mortgage and need to sell. At Premise Home Solutions, our professional buyers stop everything and listen to sellers to help find the best resolution for your situation. Feel free to ask us any questions or express any concerns you may have about the process of a direct sale of your house. At Premise Home Solutions, we are your neighbors who live and work alongside you, and we are proud of the work we do helping Tennessee sellers with unique and individualized solutions, one seller, one property at a time. So why learn more about the difference a direct sale of your house can make by talking with a professional buyer from Premise Home Solutions for yourself without obligation? Call Premise Home Solutions at 423-331-6110.